According to the capital structure theory of financial bankruptcy cost, the debts bring out negative efficiency when debts come to a certain ratio since the financial bankruptcy increases.

根据财务危机成本的资本结构理论，当负债达到一定比例后，由于财务风险的增加，负债对企业价值产生负效应。

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The optimum capital structure is the ratio of long-term liabilities to equities when the average cost of capital is lowest and the value of enterprise is max.

企业最优资本结构是指使企业平均资本成本最低且企业价值最大的债务资本和权益资本的比例关系。

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Optimal economic growth rate and the ratio of human capital cost to physical capital cost can be confirmed when the economy gets to equilibrium.

均衡时最优的经济增长率和人力资本花费与物资资本花费比是可以确定的。

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If a buyback raises the debt-to-equity ratio, it can lower the firm's overall cost of capital (because in most countries interest payments, unlike dividends, are tax deductible).

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